CNA chooses AIR Worldwide for cat risk modelling

CNA chooses AIR Worldwide for cat risk modelling | Insurance Business Australia

CNA chooses AIR Worldwide for cat risk modelling

Catastrophe modelling firm AIR Worldwide has announced that property and casualty insurer CNA has transitioned to AIR’s Touchstone product as its primary risk-modelling platform.

“We are excited to leverage AIR’s powerful catastrophe modelling solution to support our multiple lines of business during the underwriting process,” said Tom Stone, vice president of aggregation and catastrophe management at CNA. “AIR has a track record of providing scientifically credible models, and, combined with Touchstone, this complete solution will provide us with more analytics to make risk management, pricing, and risk selection decisions.”

As part of the agreement, CNA is accessing Touchstone in the AIR Cloud as an alternative to on-site deployment. CNA is also licensing AIR’s Web Services to connect to AIR’s cloud infrastructure. AIR is also providing support for CNA’s newly created national accounts line.

“CNA emphasised the importance of account modelling time and its impact on workflow efficiency,” said Rob Newbold, executive vice president of AIR Worldwide. “The ability of Touchstone to model multiple perils at one time, coupled with our powerful services tools to help reduce manual steps such as data transformations and analysis setup, will help improve their overall productivity and integrate seamlessly within their large property and small/middle-market underwriting systems.”

“It’s been a positive experience working with AIR as they provided a unique solution to help streamline our workflows,” Stone said. “Through this customisation we are able to achieve levels of performance and speed not possible in our previous solution. Additionally, AIR’s implementation team was fully supportive of our needs and made the transition go smoothly, significantly mitigating the potential impact of transitioning to a new model vendor.”